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Side-by-side financial comparison of Howard Hughes Holdings Inc. (HHH) and Liberty Energy Inc. (LBRT). Click either name above to swap in a different company.
Liberty Energy Inc. is the larger business by last-quarter revenue ($1.0B vs $624.4M, roughly 1.6× Howard Hughes Holdings Inc.). Liberty Energy Inc. runs the higher net margin — 2.2% vs 1.0%, a 1.2% gap on every dollar of revenue. On growth, Liberty Energy Inc. posted the faster year-over-year revenue change (4.5% vs -33.2%). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs -6.2%).
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
Liberty Energy Inc. is a North American energy services provider specializing in hydraulic fracturing and well completion solutions for oil and gas operators. It serves clients across major U.S. shale basins, offering low-emission equipment and tailored support to optimize well productivity.
HHH vs LBRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $624.4M | $1.0B |
| Net Profit | $6.0M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | 4.2% | 2.2% |
| Net Margin | 1.0% | 2.2% |
| Revenue YoY | -33.2% | 4.5% |
| Net Profit YoY | -96.2% | — |
| EPS (diluted) | $0.20 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $624.4M | $1.0B | ||
| Q3 25 | $390.2M | $947.4M | ||
| Q2 25 | $260.9M | $1.0B | ||
| Q1 25 | $199.3M | $977.5M | ||
| Q4 24 | $935.0M | $943.6M | ||
| Q3 24 | $327.1M | $1.1B | ||
| Q2 24 | $317.4M | $1.2B |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $6.0M | $13.7M | ||
| Q3 25 | $119.5M | $43.1M | ||
| Q2 25 | $-12.1M | $71.0M | ||
| Q1 25 | $10.5M | $20.1M | ||
| Q4 24 | $156.3M | $51.9M | ||
| Q3 24 | $72.8M | $73.8M | ||
| Q2 24 | $21.1M | $108.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 20.6% | ||
| Q3 25 | — | 18.7% | ||
| Q2 25 | — | 22.1% | ||
| Q1 25 | — | 22.1% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.9% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 4.2% | 1.9% | ||
| Q3 25 | 48.6% | -0.3% | ||
| Q2 25 | 26.0% | 3.6% | ||
| Q1 25 | 24.0% | 1.9% | ||
| Q4 24 | 33.5% | 2.6% | ||
| Q3 24 | 60.6% | 9.4% | ||
| Q2 24 | 20.4% | 12.2% |
| Q1 26 | — | 2.2% | ||
| Q4 25 | 1.0% | 1.3% | ||
| Q3 25 | 30.6% | 4.5% | ||
| Q2 25 | -4.7% | 6.8% | ||
| Q1 25 | 5.3% | 2.1% | ||
| Q4 24 | 16.7% | 5.5% | ||
| Q3 24 | 22.2% | 6.5% | ||
| Q2 24 | 6.6% | 9.3% |
| Q1 26 | — | $0.14 | ||
| Q4 25 | $0.20 | $0.08 | ||
| Q3 25 | $2.02 | $0.26 | ||
| Q2 25 | $-0.22 | $0.43 | ||
| Q1 25 | $0.21 | $0.12 | ||
| Q4 24 | $3.14 | $0.31 | ||
| Q3 24 | $1.46 | $0.44 | ||
| Q2 24 | $0.42 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5B | $699.1M |
| Total DebtLower is stronger | $5.1B | $7.1M |
| Stockholders' EquityBook value | $3.8B | $1.9B |
| Total Assets | $10.6B | $4.4B |
| Debt / EquityLower = less leverage | 1.35× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $699.1M | ||
| Q4 25 | $1.5B | $27.6M | ||
| Q3 25 | $1.5B | $13.5M | ||
| Q2 25 | $1.4B | $19.6M | ||
| Q1 25 | $493.7M | $24.1M | ||
| Q4 24 | $596.1M | $20.0M | ||
| Q3 24 | $400.7M | $23.0M | ||
| Q2 24 | $436.8M | $30.0M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $5.1B | $246.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $5.1B | $190.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $3.8B | $2.1B | ||
| Q3 25 | $3.8B | $2.1B | ||
| Q2 25 | $3.6B | $2.0B | ||
| Q1 25 | $2.8B | $2.0B | ||
| Q4 24 | $2.8B | $2.0B | ||
| Q3 24 | $2.6B | $2.0B | ||
| Q2 24 | $3.0B | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $10.6B | $3.6B | ||
| Q3 25 | $10.7B | $3.5B | ||
| Q2 25 | $10.3B | $3.4B | ||
| Q1 25 | $9.3B | $3.4B | ||
| Q4 24 | $9.2B | $3.3B | ||
| Q3 24 | $9.4B | $3.3B | ||
| Q2 24 | $9.9B | $3.2B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.35× | 0.12× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.85× | 0.10× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $360.3M | — |
| Free Cash FlowOCF − Capex | $348.6M | — |
| FCF MarginFCF / Revenue | 55.8% | — |
| Capex IntensityCapex / Revenue | 1.9% | 13.1% |
| Cash ConversionOCF / Net Profit | 60.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $417.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $360.3M | $195.4M | ||
| Q3 25 | $149.8M | $51.5M | ||
| Q2 25 | $177.3M | $170.6M | ||
| Q1 25 | $-224.9M | $192.1M | ||
| Q4 24 | $337.1M | $177.3M | ||
| Q3 24 | $248.3M | $244.5M | ||
| Q2 24 | $-17.5M | $248.2M |
| Q1 26 | — | — | ||
| Q4 25 | $348.6M | $-10.0M | ||
| Q3 25 | $137.7M | $-67.2M | ||
| Q2 25 | $169.7M | $33.1M | ||
| Q1 25 | $-238.4M | $58.2M | ||
| Q4 24 | $317.1M | $-26.2M | ||
| Q3 24 | $238.7M | $77.9M | ||
| Q2 24 | $-25.1M | $112.2M |
| Q1 26 | — | — | ||
| Q4 25 | 55.8% | -1.0% | ||
| Q3 25 | 35.3% | -7.1% | ||
| Q2 25 | 65.1% | 3.2% | ||
| Q1 25 | -119.6% | 6.0% | ||
| Q4 24 | 33.9% | -2.8% | ||
| Q3 24 | 73.0% | 6.8% | ||
| Q2 24 | -7.9% | 9.7% |
| Q1 26 | — | 13.1% | ||
| Q4 25 | 1.9% | 19.8% | ||
| Q3 25 | 3.1% | 12.5% | ||
| Q2 25 | 2.9% | 13.2% | ||
| Q1 25 | 6.8% | 13.7% | ||
| Q4 24 | 2.1% | 21.6% | ||
| Q3 24 | 2.9% | 14.6% | ||
| Q2 24 | 2.4% | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | 60.04× | 14.28× | ||
| Q3 25 | 1.25× | 1.20× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | -21.35× | 9.55× | ||
| Q4 24 | 2.16× | 3.42× | ||
| Q3 24 | 3.41× | 3.31× | ||
| Q2 24 | -0.83× | 2.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
LBRT
Segment breakdown not available.
